Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Crypto Traders Are Extremely Skeptical of Ethereum Bull Run – And That’s Highly Bullish, Says Crypto Analytics Firm Santiment

by Daily Hodl Staff
April 3, 2021
in Ethereum, Trading
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

Crypto intelligence firm Santiment says doubt surrounding Ethereum’s recent rally back above $1,800 may indicate that the top smart contract platform is finally breaking out.

An extreme level of skepticism surrounding a particular asset is a historically bullish signal in the crypto markets, notes Santiment, and many are questioning whether Ethereum (ETH) can actually remain above the $1,800 level this time around.

“Ethereum has wobbled its way back above $1,800, and the crowd has serious doubts on whether it’ll last. This extreme level of crowd skepticism is historically bullish for crypto coins.”

Source: Santiment

The crypto analytics firm adds in a blog post that negative sentiment on Twitter for Ethereum has hit a record high for the year.

ADVERTISEMENT

“We’re currently seeing the most negative Twitter sentiment of 2021. The crowd is in disbelief, and this is a bullish indication.”

Per Santiment, data also suggests that the number of Ethereum active addresses is growing, thus indicating greater network use.

Santiment adds that the quantity of ETH tokens moving to exchanges to be sold on the open market is dwindling, while the amount of Ethereum moving away from exchanges to cold storage wallets an decentralized finance (DeFi) platforms is increasing. The confluence of the two factors is particularly bullish for the second largest crypto asset by market cap, as the project mints a new all-time high above the $2,000 range.

“Ethereum’s supply on exchanges continues moving down, a great sign that more tokens are moving into hard wallets and DeFi.”

Source: Santiment

The cryptocurrency analytics firm also takes a look at Ethereum’s network value to transaction ratio (NVT) which determines whether a cryptocurrency is undervalued or overvalued. The NVT is calculated by dividing the network value (market capitalization) by the transaction volume on the Ethereum blockchain over the past 24 hours. The firm notes that Ehereum’s NVT is currently in semi-bullish territory.

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix
ADVERTISEMENT


Check Latest News Headlines


ADVERTISEMENT


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/GrandeDuc

Submit a Press Release

Crypto Livewire – Press Releases

  • BitMinutes Announces Partnership With GoodDollar, Embracing Opportunity for Social Good
    April 22, 2021
  • Bitsgap Launches Intuitive Combo AI Bot for Futures Trading
    April 21, 2021
  • eToro Adds Chainlink and Uniswap Amid Investor Surge for Crypto
    April 19, 2021
  • TeraBlock Secures $2.4 Million to Build a Newbie-Friendly Crypto Exchange Powered by Machine Learning
    April 19, 2021
  • BlockSwap Network Announces Balancer LBP and Uniswap LP Incentive
    April 19, 2021
  • Raze Network Completes Triple IDO and Balancer LBP Event
    April 19, 2021
  • First Charity Project Using NFT: All Profits From Sales of Content Produced by Miss Bitcoin To Be Donated
    April 15, 2021
Submit a Guest Post
ADVERTISEMENT
ADVERTISEMENT
Bitcoin
$54,963.00
$54,963.00
1.53%
Ethereum
$2,637.13
$2,637.13
8.04%
Binance Coin
$578.24
$578.24
0.89%
XRP
$1.34
$1.34
2.68%
Polkadot
$36.05
$36.05
0.99%
Cardano
$1.26
$1.26
0%

Spotlight

  • Raoul Pal Says One Threat May Derail the Bitcoin Revolution – And It’s Not Regulation
    April 15, 2021
  • Here Are 4 Crypto Assets To Buy Amid the Violent Dip, Says Trader Credible Crypto
    April 19, 2021
  • Cardano Creator Charles Hoskinson Says Dogecoin Bubble Will Collapse, Bring Massive Losses to Retail Traders
    April 17, 2021
  • Airdrops Could Send These Under-the-Radar Altcoins to the Moon, Says Top Analyst Tyler Swope
    April 20, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
  • DAILY HODL MIX

© 2020 The Daily Hodl

×